This study tested for differences in perceived annoyance and loudness between road traffic noise (RTN) and wind farm noise (WFN) with amplitude modulation (AM) and tonality. Twenty-two participants, who were primarily university students with no previous exposure to WFN and aged between 19 and 29 (mean, 22 years old; standard deviation, 2) years old with normal hearing, underwent a laboratory-based listening test. Each participant rated perceived annoyance and loudness of WFN and RTN samples played at sound pressure levels (SPLs) ranging from 33 to 48 dBA. Probability modeling revealed that participants were the largest source of variability in ratings of perceived annoyance and loudness while noise type and SPL were relatively minor sources. Overall, no differences were found between WFN and RTN perceived annoyance or loudness ratings. On the other hand, no substantial differences in annoyance were found between low-frequency tonal AM and mid-to-high-frequency AM or “swish” WFN.